Coping / Future Planning / Update Asset Pay-on-Death Settings
Update Asset Pay-on-Death Settings
After a death, a deceased's physical belongings and other Estate Assets are distributed to Beneficiaries through a legal process called Probate.
However, certain Assets can be more easily transferred to a designated person directly, without having to go through the Probate.
Examples include, but are not limited to:
To facilitate these automatic transfers, update settings and preferences for each account.
Learn more about Probate and Asset distribution at the links below.
However, certain Assets can be more easily transferred to a designated person directly, without having to go through the Probate.
Examples include, but are not limited to:
- Life insurance policies with a designated Beneficiary
- Property held jointly in Title with Survivorship Rights (real estate, vehicles, boats, etc)
- Bank accounts, 401(k)s & IRAs designated as Pay-On-Death (POD)
- Stocks, bonds & securities designated as Transfer-On-Death (TOD)
To facilitate these automatic transfers, update settings and preferences for each account.
Learn more about Probate and Asset distribution at the links below.